Architectural Concept Design Collection

  • CONTACT
  • MARKETCAP
  • BLOG
Finances Investing and Crypto News
  • BOOKMARKS
  • Finance
  • Investment
  • Crypto
    • Bitcoin
    • Blockchain
    • Ethereum
    • Forex
    • Tether
  • Market
    • Binance
    • Business
    • Investor
    • Money
    • Trading
  • News
    • Mining
    • NFT
    • Stocks
Reading: Hong Kong passes Stablecoins Bill to regulate fiat-backed stablecoins
Share
  • bitcoinBitcoin(BTC)$104,078.18
  • ethereumEthereum(ETH)$2,493.19
  • tetherTether USDt(USDT)$1.00
  • rippleXRP(XRP)$2.14
  • binancecoinBNB(BNB)$649.82
  • solanaSolana(SOL)$151.98
  • usd-coinUSDC(USDC)$1.00
  • dogecoinDogecoin(DOGE)$0.189104
  • tronTRON(TRX)$0.268344
  • cardanoCardano(ADA)$0.66
Finances Investing and Crypto NewsFinances Investing and Crypto News
0
Font ResizerAa
  • Finance
  • Investment
  • Crypto
  • Market
  • News
Search
  • Finance
  • Investment
  • Crypto
    • Bitcoin
    • Blockchain
    • Ethereum
    • Forex
    • Tether
  • Market
    • Binance
    • Business
    • Investor
    • Money
    • Trading
  • News
    • Mining
    • NFT
    • Stocks
Have an existing account? Sign In
Follow US
© Foxiz News Network. Ruby Design Company. All Rights Reserved.
Finances Investing and Crypto News > Blog > Crypto > Hong Kong passes Stablecoins Bill to regulate fiat-backed stablecoins
Crypto

Hong Kong passes Stablecoins Bill to regulate fiat-backed stablecoins

admin
Last updated: 21/05/2025 6:13 Chiều
admin
Published 21/05/2025
Share


Hong Kong’s financial regulator will soon require stablecoin issuers to meet robust risk management and compliance standards under the new law.

Hong Kong just hit the gas on stablecoin regulation, passing a bill that makes licensing mandatory for anyone issuing fiat-referenced stablecoins. Under the new Stablecoins Bill, any business issuing stablecoins tied to the Hong Kong dollar or operating in Hong Kong must get a license from the Hong Kong Monetary Authority.

Licensed issuers will have to follow strict rules on managing reserves, allowing redemptions at face value, keeping client assets separate, and meeting standards for anti-money laundering, risk management, disclosure, and auditing.

Secretary for Financial Services and the Treasury Christopher Hui said the new law follows the idea of “same activity, same risks, same regulation” and focuses on managing risks to create strong rules. He added that the law matches international standards.

“We believe that a robust and fit-for-purpose regulatory environment would provide favourable conditions to support the healthy, responsible, and sustainable development of Hong Kong’s stablecoin and the broader digital asset ecosystem.”

HKMA CEO Eddie Yue

The new licensing regime will also limit stablecoin advertisements to licenced issuers in a bid to help prevent scams. The government plans to introduce further regulations on crypto trading platforms, over-the-counter services, and custodians in coming months.

The move comes amid growing interest in cryptocurrencies in Hong Kong. A November 2024 survey by the Hong Kong University of Science and Technology found that 25% of respondents plan to hold cryptocurrencies, up 6% since September 2023. The survey also showed rising confidence in regulated crypto exchanges despite ongoing uncertainty. The new Stablecoins Bill is expected to take effect later this year.

You Might Also Like

Which is the better buy in this bull market?

Quant eyes $146 as inverse H&S breakout fuels bullish reversal hopes

XRP trend reversal likely, could rally in double-digits

Moo Deng crypto surges over 114% after Binance Alpha listing

Real estate platform StegX to tokenize $100m of RWA on Hedera

TAGGED:billfiatbackedHongKongpassesregulateStablecoins

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Email Copy Link Print
Previous Article What is Coti? Guide to history, uses, and future trends
Next Article Printer exploit reveals new threat to cryptocurrency wallets
Leave a Comment

Để lại một bình luận Hủy

Email của bạn sẽ không được hiển thị công khai. Các trường bắt buộc được đánh dấu *

Follow US

Find US on Socials
FacebookLike
- Advertisement -
Ad image
Popular News
Top 4 reasons why XRP price may surge 50% in June
Emergency Funds: Importance and How to Build One
Debt Management: Strategies to Pay Off Debt Efficiently
Riot Platforms unloads 475 BTC in its biggest single-month Bitcoin sale to date
Revolut partners with Lightspark to add Bitcoin Lightning for UK and EEA users
- Advertisement -
Ad image

Follow Us on Socials

We use social media to react to breaking news, update supporters and share information

Twitter Youtube Telegram Linkedin
Finances Investing and Crypto News

FICN.net brings you the latest in finance, investment, and crypto. Stay informed with expert insights, market analysis, and beginner guides. Whether you're new or experienced, FICN.net helps you explore opportunities, manage risks, and make smarter financial decisions in a fast-changing world.

Subscribe to our newsletter

You can be the first to find out the latest news and tips about trading, markets...

Ad image
© 2024 Finance, Investment, and Crypto News. All Rights Reserved.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?